Indonesia is seeking at least 27.4 trillion rupiah ($1.7 billion) in damages from PTT Exploration & Production (BKK:PTTEP) in a planned lawsuit next year over the Montara oil spill, even after the Thai company reached an initial settlement with farmers in the area.
Thailand’s PTT Exploration & Production (PTTEP) has concluded an out of court settlement with Indonesian seaweed farmers after agreeing to pay A$192.5 million (US$127.4 million) in compensation for the oil spill that resulted from the 2009 Montara blowout offshore Australia.
UK-listed Jadestone Energy (LON:JSE) has reported that the start-up of the company’s Montara Venture floating production storage and offloading (FPSO) vessel remains uncertain following oil leaks offshore Australia.
Structural integrity of Jadestone’s Montara FPSO questioned by Australia’s regulator after oil spills
Jadestone Energy (LON:JSE) has been slapped with two directives from Australia’s offshore energy regulator as worries rise about the structural integrity of the company’s Montara floating production storage and offloading (FPSO) vessel following two oil leaks.
Australia’s offshore regulator has issued a prohibition notice to Jadestone Energy (LON:JSE) following an oil spill offshore Australia at the Montara oilfield due to immediate and significant threats to the environment as the structural integrity of the FPSO is at risk of failure.
UK-listed Jadestone Energy has reported an oil spill offshore Western Australia at the Montara oilfield when oil was being transferred between two crude tanks onboard the Montara Venture FPSO. Oil was observed on the surface of the sea and the field has now been shut down after a hole was identified in the bottom of the tank of the floating production storage and offloading (FPSO) unit.
The Indonesian government is preparing to launch domestic legal action against Thailand’s PTT Exploration & Production (PTTEP) (BKK:PTTEP) relating to economic and environmental damages suffered by local people around Kupang following the 2009 Montara oil spill.
Asia Pacific-focused Jadestone Energy (LON:JSE) today said it has successfully tied the Montara H6 development well into the Montara field facilities offshore Australia in the Timor Sea and started production.
The Indonesian government has welcomed an Australian court ruling ordering Thailand’s PTT Exploration & Production (PTTEP) to pay compensation to Indonesian seaweed farmers following the 2009 Montara oil spill. The total bill could top more than $262 million.
Asia Pacific-focused Jadestone Energy is preparing to re-issue a tender for a floating production storage and offloading (FPSO) vessel for its planned gas development at Nam Du and U Minh off Vietnam.
Independent oil firm Jadestone Energy has completed a £147.1million acquisition of the Montara project off the coast of Australia.